Ningbo Zhoushan Port approves director appointment, competition extension

Ningbo Zhoushan Port Company (SSE:601018) announced the resolutions passed at its first extraordinary general meeting of shareholders in 2025, with 803 shareholders and proxies representing 85.2199% of the company's voting shares in attendance. Key outcomes included the approval of extending the non-competition commitment by the company's indirect controlling shareholder, passed with 99.8601% approval from A-share voters, and the appointment of Mr. Teng Yahui as a director to the sixth session of the board, securing 99.9256% of the votes. The company's legal counsel has affirmed the validity of the meeting procedures and resolutions. The two largest shareholders, Ningbo Zhoushan Port Group and Shanghai International Port Group, abstained from voting on the resolution to delay competitive actions.